FEBRUARY 12, 2025

The British government on Wednesday said it was toughening immigration rules to make it almost impossible for undocumented migrants who arrive on small boats to later receive citizenship.

Under new guidance migrants arriving by sea, or hidden in the back of vehicles will normally be refused citizenship.

“This guidance further strengthens measures to make it clear that anyone who enters the UK illegally, including small boat arrivals, faces having a British citizenship application refused,” a Home Office spokesperson said.

Prime Minister Keir Starmer’s Labour government is under pressure to reduce migration after Nigel Farage’s anti-immigration Reform UK party won roughly four million votes during the last general election — an unprecedented haul for a far-right party.

But the change to the rules has been criticised by some Labour MPs.

“If we give someone refugee status, it can’t be right to then refuse them a route to become a British citizen,” wrote lawmaker Stella Creasy on X, adding that the policy would leave them “forever second class”.

Free Movement, an immigration law blog, said the changes had the potential to “block a large number of refugees from naturalising as British citizens, effective immediately”.

It called the updated guidance “incredibly spiteful and damaging to integration”.

The announcement comes after MPs this week debated the government’s new Border Security, Asylum and Immigration Bill, designed to give law enforcement officials “counter-terror style powers” to break up gangs bringing irregular migrants across the Channel.

Legal and undocumented immigration — both currently running at historically high levels — was a major political issue at the July 2024 poll that brought Starmer to power.

On taking office, he immediately scrapped his Conservative predecessor Rishi Sunak’s plan to deter undocumented migration to the UK by deporting new arrivals to Rwanda.

Instead he pledged to “smash the gangs” to bring the numbers down.

Some 36,816 people were detected in the Channel between England and France in 2024, a 25 percent increase from the 29,437 who arrived in 2023, provisional figures from the interior ministry showed.

AFP

FEBRUARY 12, 2025

By Olasunkanmi Akinlotan

AFRIJET has launched its first-ever flight from Libreville, Gabon, to Port Harcourt, Nigeria, in a significant move to strengthen regional connectivity.

This, according to Afrijet, marks a new chapter in the airline’s expansion strategy, providing a direct link between Libreville, Gabon, and Port Harcourt, Nigeria, two crucial hubs for the oil and gas industry.

This was made known through a statement signed by the General Director of Afrijet, Nyl Moret-Mba, and made available to our correspondent on Tuesday.

Operating twice a week, Moret-Mba said the flights are conducted on an ATR 72-600, offering eight business class seats and 54 economy class seats.

He added that the departure schedule from Libreville to Port Harcourt is set for Tuesdays and Fridays at 9:15 PM and 3:30 PM, respectively, while the return flights from Port Harcourt to Libreville are available on Wednesdays and Fridays, landing in Gabon at 12:30 PM and 7:15 PM.

The statement reads partly, “This new route dramatically reduces travel time, making Port Harcourt just 1 hour and 15 minutes away from Libreville. It also provides direct connections to other key cities in Central and West Africa, including Douala, Pointe-Noire, Port-Gentil, Malabo, and even Johannesburg.

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“The launch is expected to significantly benefit the oil sector by easing the movement of personnel and facilitating trade, as well as improving cultural exchanges between these strategic regions.”

Furthermore, starting in April 2025, Afrijet also promised to expand its presence with four weekly flights in each direction, doubling its current frequency.

Additionally, the airline said it was set to enhance its network with a new direct flight from Libreville to Bangui, the capital of the Central African Republic.

The General Director of Afrijet said, “Beginning February 19, 2025, this 1 hour and 45-minute flight will operate every Wednesday, with departures from Libreville at 3:45 PM and from Bangui at 6:30 PM. The flight will be operated on a CRJ 900 aircraft, which offers 90 seats.

“These new direct routes between Libreville, Port Harcourt, and Bangui are a key milestone in improving regional travel.

“By reducing logistical barriers, we are enhancing connectivity between Central Africa and Nigeria, making travel faster and more comfortable for our passengers.”

Olasunkanmi Akinlotan

FEBRUARY 12, 2025

By Maddie Parker and Ilena Peng

(Bloomberg) -- Coffee futures fell by the most in two months after earlier marking a fresh all-time high, with supply concerns still the dominant theme in the market.

The most-active arabica contract in New York jumped as much as 2.1% to reach a record of $4.2995 a pound on Tuesday, before heading lower by as much as 4.8%. That’s the biggest dip since Dec. 2. Still, prices remain above $4 a pound, a milestone the premium bean reached last week.

Prices for the variety have doubled in the past year, with the market driven higher by worries over shortfalls from top producer Brazil and concerns over the quality of next season’s harvest. But “the possibility of sharp pullback remains given the volatility of the market,” Sucden Financial broker Harry Howard said in a note.

Adverse weather continues to pose a threat to Brazilian crops, with its biggest arabica coffee growing region receiving below-normal rainfall last week. Limited rains and low soil moisture, unfavorable for cherry growth, are expected to persist over the next week, according to forecaster Maxar Technologies Inc.

New buyer interest above $4 “should be reduced somewhat as long as there are no bullish inputs,” but that’s unlikely given concerns over US tariffs, according to a Tuesday note from Sucafina SA.

Still, a recent uptick in arabica inventories in exchange-monitored warehouses may provide some relief to the market.

FEBRUARY 13, 2025

By Henrique Almeida and Joao Lima

While it can be difficult and dangerous to try to reach another country if its government doesn’t want you there, for those with a big enough bank account, legal residency in another country can be had for cash. Several countries offer these “golden visas,” and some even dole out full citizenship to foreigners via “golden passports.” The price varies, with some visas accessible for only wealthy applicants, and others set at more affordable rates.

Golden visas are often bought by citizens of China, Russia and Middle Eastern countries who want to live in western Europe or the US. But they attract curiosity from other nations too: Americans registered a spike in interest in the visas in late 2024 after Donald Trump won the divisive US presidential election.

FEBRUARY 14, 2025

By Olasunkanmi Akinlotan

The Founder of United Nigeria Airlines and spokesperson of the Airline Operators of Nigeria, Prof Obiora Okonkwo, has lamented the multiple charges by government agencies in the country’s aviation sector, describing the burden on domestic operators as a nightmare.

He called on the Federal Government to urgently wade into the matter to save domestic airline operators.

Okonkwo made this call on Wednesday in Abuja during the celebration of the airline’s 4th anniversary.

However, he noted that the forex policy of President Bola Tinubu and the newly signed Cape Town Convention have helped in reducing the cost of operations in the Nigerian aviation industry.

He said, “I think that the foreign exchange policy of the Tinubu administration has been of tremendous advantage to the airline industry. Before he came into power, it was a nightmare for us to be able to convert the naira to foreign currencies to pay our obligations. We lost a whole lot of contracts.

“We lost a lot of vendors. Because you have your money stuck in naira in the bank, and you don’t get the forex that you need. You can’t even go and help yourself somewhere. So, it’s a different story. You don’t need to track funds like l mentioned for the foreign operators, the government has cleared that, almost a billion US dollars.

“It has opened up a new window for better relationships. Our reputation and integrity in the international aviation industry are better now. So we are happy with it.”

Okonkwo also stated that unruly passengers are posing a challenge to the industry, saying the growing menace has been hinged on delayed flights and cancellations.

The airline owner insisted that delays happen globally, appealing to passengers to be calm and understand their rights and obligations as a flying passenger.

He stated,  “I can tell you that another big challenge we have as operators is the passengers. The passengers whom we strive day and night to service and please are the same people who will turn around and become unruly for no just reason. They overemphasized the issues of delays. Delays happen in any part of the world but we need to work together with the press to educate the travelling public about their rights and obligations. We know what we owe them as operators.

“We overbend ourselves as operators to please them. We often do beyond what local flight operators do in any part of the world to satisfy our passengers but despite all that, their attitudes and behaviors put a lot of stress on the operators. Sometimes passengers beat up staff and also equipment is destroyed at the airports.”

The AON official urged the government to create a window for reduced rate loans for airline operators and also reduce multiple charges on operators.

The Anambra state-born businessman explained that “one thing that will help the growth of this industry will be for the government to develop a programme that will give the window access to local operators to a single-digit loan.

“They need to cut down on the charges the operators pay different agencies of government, in all they are about twenty. The margin of this business is very low and if you have to meet all those charges to NCAA, NAMA, FAAN, you are left with nothing. It’s affecting us, we need to have more money to be able to develop, expand and then also improve the working environment for our staff.”

He added that “the government must realize that access to credit is very important to us operators because we are competing with people who have access to loans at 3, 5 per cent maximum, and aviation is a global village and we can’t compete with them with weighty interest.”

The Executive Director and Chief Operating Officer of the airline, Osita Okonkwo, couldn’t suppress his joy with the feat achieved by the airline so far, recounting how the airline had opened more routes across the country listing  Benin, Kano, and Sokoto as the latest routes of the airline.

According to him, United Nigeria recently renewed its certificate while plans are at an advanced stage for commencement of its regional and international operations.

FEBRUARY 14, 2025

By Hilka Birns

United Nigeria Airlines (UN, Enugu) founder and chairman Obiora Okonkwo has called on the federal government to facilitate local airlines' access to small loans, suggesting this would support the growth of the sector, according to several local media reports.

Speaking at a news conference in Abuja on February 12 to mark the airline's fourth anniversary, he said, as reported by The Cable, Business Day, and The Sun newspapers: "One thing that will help the growth of this industry will be for the government to develop a programme that will give a window of access for local operators to single-digit loans."

He also highlighted that multiple charges imposed by government agencies are a major challenge for domestic operators, and urged the federal government to intervene promptly.

"They need to cut down on the charges. The operators pay different agencies of government, in all they are about 20. So the margin of this business is very low. And if you have to meet all those charges, NCAA [Nigerian Civil Aviation Authority], NAMA [Nigerian Airspace Management Agency], FAAN [Federal Airports Authority of Nigeria}, and so on, you are left with nothing. It’s affecting us. We need to have more money to be able to develop, expand, and then also improve the working environment for our staff," he said, as quoted by The Cable.

"So I really think that access to credit is very, very critical, because we are competing with people who have access to foreign exchange credit at a cost of 3% to 5% maximum. So we can compete in the global village."

Forex relief

Still, Okonkwo commended President Bola Tinubu's foreign exchange policy for providing significant relief to the airline industry. Before Tinubu's administration, converting naira to foreign currency was a major challenge, leading to lost contracts due to the inability to access the necessary forex to meet obligations.

"I think that the forex policy of the Tinubu administration has been of tremendous advantage to the airline industry. Before he came into power, it was a nightmare for us to be able to convert naira to foreign currency to pay our obligations. We lost a whole lot of contracts. We lost because you have your money stuck in naira and cannot get the forex that you need,” he said.

He also noted that Nigeria's new commitment towards upholding the Cape Town Convention has helped reduce operational costs. In September 2024, Nigeria signed practice directions under the Federal High Court to enhance compliance with the Cape Town Convention.

"It has opened up a new window for better relationships. Our reputation and integrity in the international aviation industry is better now. So we are happy with it," he said according to Business Day. "Those policies that I had mentioned, the forex policy, the policy of domesticating Cape Town Convention, and then the new practice direction, all those things actually helped to reduce so much of the burden domestic operators hitherto grappled with."

According to The Sun newspaper, Okonkwo also announced his decision to step down as chairman of the airline to focus on the forthcoming Anambra State governorship elections.

United Nigeria Airlines operates seven domestic routes with four company-owned E145s, of which only two are in active service. It wet-leases in an A320-200 from Fly2Sky and an E190 from Marathon Airlines. United Nigeria also operates a company-owned B737-500 on behalf of the Nigerian Air Force (NGR, Lagos).

FEBRUARY 15, 2025

Afrijet has launched its first-ever flight from Libreville, Gabon, to Port Harcourt, Nigeria to strengthen regional connectivity.

In a statement signed by the General Director of Afrijet, Nyl Moret-Mba, the move marks a new chapter in the airline’s expansion strategy, providing a direct link between Libreville, Gabon, and Port Harcourt, Nigeria, two crucial hubs for the oil and gas industry.

Operating twice a week, Moret-Mba said the flights are conducted on an ATR 72-600, offering eight business class seats and 54 economy class seats.

He added that the departure schedule from Libreville to Port Harcourt is set for Tuesdays and Fridays at 9:15 PM and 3:30 PM, respectively, while the return flights from Port Harcourt to Libreville are available on Wednesdays and Fridays, landing in Gabon at 12:30p.m. and 7:15 p.m.

The statement reads, “This new route dramatically reduces travel time, making Port Harcourt just 1 hour and 15 minutes away from Libreville. It also provides direct connections to other key cities in Central and West Africa, including Douala, Pointe-Noire, Port-Gentil, Malabo, and even Johannesburg.

“The launch is expected to significantly benefit the oil sector by easing the movement of personnel and facilitating trade, as well as improving cultural exchanges between these strategic regions.”

Furthermore, starting in April 2025, Afrijet also promised to expand its presence with four weekly flights in each direction, doubling its current frequency.

Additionally, the airline said it was set to enhance its network with a new direct flight from Libreville to Bangui, the capital of the Central African Republic.

The General Director of Afrijet said, “Beginning February 19, 2025, this 1 hour and 45-minute flight will operate every Wednesday, with departures from Libreville at 3:45 PM and from Bangui at 6:30 PM. The flight will be operated on a CRJ 900 aircraft, which offers 90 seats.

“These new direct routes between Libreville, Port Harcourt, and Bangui are a key milestone in improving regional travel.

“By reducing logistical barriers, we are enhancing connectivity between Central Africa and Nigeria, making travel faster and more comfortable for our passengers.”

FEBRUARY 17, 2025

BY  Peter Vercoe

(Bloomberg) -- Australia’s government will ban foreign investors from buying established houses for the next two years as part of an election pitch to tackle surging home prices.

From April 1, foreign investors will be banned from buying established property until March 31, 2027, Housing Minister Clare O’Neil said in a statement Sunday. The restriction will then be reviewed to determine whether it should be extended.

Australia’s housing is some of the most unaffordable in the world and soaring property prices will be a key election issue amid a broader cost-of-living crisis, especially among young voters who fear they’ll never be able to buy a home.

In Sydney, housing values have jumped almost 70% over the past 10 years, with the median dwelling price now around A$1.2 million ($762,000), according to property consultancy CoreLogic Inc. Rents have also been climbing.

Still, the ban is likely to have only a marginal effect on prices. Overseas investors bought A$4.9 billion of residential real estate — including vacant land, new and established dwellings — in the 12 months ended June 30, 2023, according to the Australian Taxation Office. Established dwellings accounted for about one third of the total.

The tax office will be given extra funding to help enforce the ban, O’Neil said Sunday.

The government’s move to ban foreign purchases of established houses matches a pledge by opposition leader Peter Dutton made last year. An election must be held by May 17, and polls show it will be a close fight, with cost-of-living concerns and housing among the top three issues.

FEBRUARY 17, 2025

The Minister of Information and National Orientation, Mohammed Idris, has called for a more liberal visa regime for Nigerian companies seeking to establish factories and businesses in foreign countries.

The Minister made the call in Addis Ababa, Ethiopia on Sunday when he represented President Bola Tinubu at a meeting with the executive members of the Nigerian Community in Ethiopia, on the sidelines of the 38th Ordinary Session of the Assembly of the African Union, AU, Heads of State and Government.

Idris emphasized that as Nigeria continues to provide an enabling environment for foreign companies to invest and operate within its borders, it is only fair and mutually beneficial for other nations to extend similar support to Nigerian businesses looking to expand internationally.

“Last year, I was representing Nigeria in Indonesia and found out that about 50 big Indonesian companies are operating in Nigeria but we do not have five Nigerian companies operating in Indonesia. If they want to come to our country to trade because of our population and ability to purchase their goods and services, then there should also be that reciprocal arrangement where Nigerians are also given the rightful place; and the visa issue is the same problem you find in Ethiopia and Indonesia. It becomes very complex for people to give Nigerians visas,” he said.

In response to concerns regarding the Ethiopian government’s cancellation of the e-visa and Visa-on-Arrival options for Nigerian travelers, Idris assured that the matter will be escalated to the Minister of Foreign Affairs for appropriate diplomatic engagement.

While acknowledging the concerns raised by Nigerians in Ethiopia, the Minister emphasized that visa policies among nations are typically based on the principle of reciprocity.

He noted that governments often implement visa regulations in response to the policies extended to their citizens, highlighting the need for balanced and mutually beneficial agreements in international travel and diplomacy.

“Every relationship with other countries is reciprocal. So if we give them Visa-on-Arrival, there is no reason why they should not give us Visa-on-Arrival,” he said.

The Minister therefore urged Nigerians living abroad to consistently demonstrate good conduct and responsible citizenship in order to promote the image of the country to the outside world.

“We don’t allow bad people to represent us and that’s where you come in. You are the ones who are here and if you don’t represent us well, there is no way we will look good. The visit of the President to Ethiopia from time to time or the visit of any minister here cannot do it. It is those who are here and living with them that can change whatever perception they have about our country,” he said.

The Minister used the occasion to inform the Nigerian community about the policy direction of the Tinubu Administration, stressing that a lot has been achieved in revamping the economy, provision of infrastructure, curbing insecurity, and the restoration of investor confidence in Nigeria.

Idris said Nigeria has recently secured approximately $1.07 billion in Foreign Direct Investment for the establishment of drug and pharmaceutical manufacturing industries.

He emphasized that this significant investment marks the beginning of Nigeria’s medical industrialization by positioning the country as a key player in pharmaceutical production to enhance local drug manufacturing capacity, reduce dependency on imports, create jobs, and strengthen the nation’s healthcare sector.

The Minister said in less than 250 days, about N32 billion has been disbursed to students under the Students Loan Scheme to ensure that no student is denied access to quality education due to lack of funds.

Idris, who reaffirmed the government’s commitment to tackling security challenges head-on, disclosed that in 2024 alone, security forces neutralized 8,000 terrorists and bandits, rescued 8,000 kidnapped victims, and recorded 11,600 arrests.

The Minister stated that the Kaduna-Abuja Expressway, once notorious for criminal activities, has now been successfully cleared of criminal elements, noting that the improved security along the route has brought significant relief to commuters.

Idris said reform is usually a very difficult task but there is a gradual progression towards prosperity for all as promised by the President.

In his remarks, the President of the Nigerian Community in Ethiopia, Mr Muideen Alimi, said part of their work plan is to collaborate with the Nigerians in Diaspora Commission to organize a workshop on enhancing economic development through intra-African trade.

He urged Nigeria to support the actualization of the plan to set up the African Central Bank as well as have a strong presence in the African Remittance Agency.

The meeting was attended by the Director General of the Nigerians in Diaspora Commission, Mrs Abike Dabiri-Erewa, and other top government officials.

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FEBRUARY 18, 2025

(Bloomberg) -- Five years after Thai Airways International Pcl filed for bankruptcy protection, the state-controlled carrier’s court-appointed debt administrator Piyasvasti Amranand is planning an aggressive international expansion.

Called out of semi-retirement in 2020 by Thailand’s then-Prime Minister Prayuth Chan-Ocha, Piyasvasti was asked to take the controls of the airline and devise a rescue after the carrier had posted losses every year from 2013. Thai Air aims to emerge from its debt-restructuring this year and anticipates the resumption of stock trading in the second quarter.

Sounder financial footing allowed Thai Air last year to order 45 Boeing Co. aircraft with an option for 35 more. Flight capacity has been increased.

‘Rapid Turnaround’

“Thai Airways’ rapid turnaround is quite astonishing,” said Weera Wongsan, president of Federation of Savings and Credit Cooperatives of Thailand, which invests in the airline’s bonds and stocks. “Most lenders were prepared for a much longer and more painful recovery timeframe.”

The turnaround is reflected in the airline’s earnings and global surveys that show its image and service ranking improving. Thai Airways posted net income of 15.2 billion baht ($449 million) in the first nine months of 2024, adding to a 28 billion baht profit in 2023 — a rebound from a record loss of 141 billion baht in 2020 when the Covid pandemic grounded most of its planes.

“The debt rehabilitation accomplishment and earnings jump has significantly strengthened Thai Airways’ finances, which has allowed it to return to aggressive expansion mode,” Piyasvasti, a 71-year-old economist, said in an interview as industry executives gather in Singapore on Tuesday for the Aviation Festival Asia to discuss sustainability, artificial intelligence and passenger loyalty. It is now positioned to take advantage of the post-pandemic travel boom, he said.

Thai Airways expects its fleet to jump to 143 aircraft in 2029 from 77 as of September 2024, according to its November presentation. It expects to expand routes to Europe, China, Australia and other international destinations. Thai Airways forecasts by 2029, it will carry about 35% of total passengers traveling through Bangkok’s Suvarnabhumi International Airport, up from about 26% last year.

Still, as post-pandemic pent-up air travel demand slows amid more seat capacity, that “increased competition has pulled down ticket prices,” said Tiwa Shintadapong, president of Investors Association of Thailand.

Thai Airways is plotting an expansive course sooner than creditors thought it could, said Somboon Sangrungjang, a lawyer at Kudun & Partners Co. and an adviser on the carrier’s creditor committee.

At the heart of the carrier’s recovery plan for Thailand’s largest corporate debt crisis was the dismissal of more than half of its 28,000 employees in exchange for about 50 billion baht of new loans and cash, according to Piyasvasti, who was the carrier’s president from 2009 to 2012.

The airline’s total employees fell to about 13,000 in 2021 before rising to almost 17,000 last year, according to a company presentation. It also sold about 30% of its aircraft in four years through 2023.

“It was a difficult decision to dismiss a large group of our colleagues, many of whom had been with the company for a long time,” said Piyasvasti, who as head of the three-member debt administrator team has final say on company decisions. “But that was the very last option to ensure the survival of the company and remaining employees.”

Airplane Restaurant

Piyasvasti raised cash by selling the airline’s properties and other assets. The move included launching a Bangkok restaurant resembling an airplane that serves in-flight meals. It also generated revenue by allowing people to experience flight simulations.

Thai Airways just completed its 76 billion baht capital reorganization through a debt-to-equity swap with creditors and a new rights offering. The fresh cash helped turn the shareholders’ equity into a surplus, allowing the airline to seek the court’s permission for a debt plan exit in the second quarter, according to Piyasvasti.

Piyasvasti, who has a PhD from the London School of Economics, tapped his previous corporate turnaround experience to pilot Thai Airways out of trouble.

In 2009, during his first stint with Thai Airways, Piyasvasti pulled the carrier out of financial trouble amid a surge in fuel costs during the global economic slowdown. A year later, it reported a record net income after what at the time was a historic loss in 2008.

He oversaw the restructuring of the country’s power and oil industry when he served as energy minister two decades ago and then chairman of PTT Pcl, the nation’s largest oil company. He orchestrated the listings of PTT and state-controlled power producer Electricity Generating Pcl.

Piyasvasti, who is also president of the Ski and Snowboard Association of Thailand, indicated he plans to step back a little from his intense involvement in Thai Airways after the debt rehabilitation exit.

“I will not work any full-time job any more after this,” he said. “I already have had enough after a very tough and demanding time here.”

--With assistance from Lee Miller.